Crescent Kashmir

Interim budget

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UT of Jammu and Kashmir has got focus of Central Government during the recent interim budget.

Recently Union Finance Minister, Smt. Nirmala Sithraman presents JK interim budget 2024-25 & revised estimates for current fiscal in Parliament.

The Revised Estimates for 2023-24 and Interim Budget 2024-25 of Government of Jammu and Kashmir were placed before the Parliament by Union Finance Minister, Smt. Nirmala Sithraman. The two Appropriation Bills on the Supplementary Budget for 2023-24 and Vote on Account for 2024-25 will be considered by the Lok Sabha and Rajya Sabha in this regard.

Finance Department of the UT had drafted the Supplementary Budget for the current year and the Interim Budget for the next financial year. For this, the Department had assessed the revenue receipts of the UT Government from GST, motor spirit tax, excise, and stamp duty. Further, the non-tax revenue from electricity and water supply, mining royalty, timber sales, annual rent from industrial lands, etc were also examined. The own revenue of the UT Government has been estimated at Rs. 20,867 crore. The UT Government also pursued Government of India for getting central financial assistance. Lieutenant Governor, Shri Manoj Sinha and Chief Secretary, Shri Atal Dulloo led the UT’s efforts in this direction. Crucial meetings were held in August 2023, October 2023 and January 2024 in Ministry of Home Affairs and Ministry of Finance to review these demands of the UT Government. Union Home Minister and Union Finance Minister personally reviewed the fiscal management of the UT Government in recent months.

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